This bill appropriates $300 million from the General Revenue Fund to the Oklahoma Department of Commerce for the fiscal year ending June 30, 2025, to establish a program of reparations for the damages caused during the Tulsa Race Massacre, which occurred from May 31 to June 1, 1921. The bill outlines the creation of the Tulsa Race Massacre Compensation Revolving Fund, which will be a continuing fund not subject to fiscal year limitations. The fund will consist of all appropriated monies and other designated sources, and it will be used to make payments to survivors and descendants of victims of the massacre.

The Oklahoma Department of Commerce is tasked with administering the compensation program in collaboration with a committee composed of local representatives, including members from the Senate and House of Representatives, as well as community-oriented individuals with relevant expertise. The bill emphasizes the importance of input from nonprofit organizations and other state entities to assist in the program's implementation. The act is set to take effect on July 1, 2025, and includes a declaration of emergency for its immediate necessity.